We’ve also been told that the core MySpace executive team will follow. MySpace has a dozen or so “execs,” but our guess is that it’s the very senior team that will be terminated: cofounders Chris DeWolfe (CEO), Tom Anderson (President) and Aber Whitcomb (CTO). Removing any more of the team would be much more than a morale blow to the company - it would also bring operations to a screaming halt.

Despite rival social network Facebook's 200 million user worldwide, MySpace continues to see more US visitors. But last week, ComScore reported that gap has almost closed: